Daily Market Reports | May 12 2025
An additional news report on the recommendation, valuation, forecast and opinion changes and updates for ASX-listed equities.
In addition to The Australian Broker Call Report, which is published and updated daily (Mon-Fri), FNArena has now added The Australian Broker Call *Extra* Edition, featuring additional sources of research and insights on ASX-listed stocks, also enlarging the number of stocks that make up the FNArena universe.
One key difference is the *Extra* Edition will not be updated daily, but merely "regularly" depending on availability of suitable quality content. As such, the *Extra* Edition tries to build a bridge between daily updates via the Australian Broker Call Report and ad hoc news stories, that are not always timely for investors hungry for the next information update.
Investors using the *Extra* Edition as a source of input for their own share market research should thus take into account that information after publication may not be up to date, or yet awaiting another update by FNArena's team of journalists.
Similar to The Australian Broker Call Report, this *Extra* Edition includes concise but limited reviews of research recently published by Stockbrokers and other experts, which should be considered as information concerning likely market behaviour rather than advice on the securities mentioned. Do not act on the contents of this Report without first reading the important information included at the end of this Report.
The Australian Broker Call *Extra* Edition is a summary that has been prepared independently of the sources identified. Readers will check the full text of the recommendations and consult a Licenced Advisor before making any investment decision.
The copyright of this Report is owned by the publisher. Readers will not copy, forward or disseminate this Report to any other person. For more vital information about the sources included, see the bottom of this Report.
COMPANIES DISCUSSED IN THIS ISSUE
Click on a symbol for fast access.
The number next to the symbol represents the number of brokers covering it for this report -(if more than 1)
APE BGL BMT BRI CEN CPU FFM (2) GDG GNG GOR GTK HGO JBH LAM MGH MM8 MPL NAB NEC NHF NWC NXL NXT (2) OML PEX RHC RSG SDR SGM SIG SLX SNT SUL SXL TCG TLX TPG WGX WTC
APE EAGERS AUTOMOTIVE LIMITED
Automobiles & Components - Overnight Price: $19.42
Canaccord Genuity rates ((APE)) as Buy (1) -
Canaccord Genuity notes March national vehicle sales rose 1.8% y/y, a very strong result considering the mid-to-high single-digit declines seen in recent months.
In the case of Eagers Automotive, the broker highlights BYD sales were up 3,189 units thanks to Shark 6 and Sealion 6&7 sales, which were not part of last year's numbers. The analyst expects this to lift 1H25 BYD-related income.
The broker notes Chery and Toyota sales also rose strongly.
Buy. Target maintained at $17.
This report was published on May 5, 2025.
Target price is $17.00 Current Price is $19.42 Difference: minus $2.42 (current price is over target).
If APE meets the Canaccord Genuity target it will return approximately minus 12% (excluding dividends, fees and charges - negative figures indicate an expected loss).
Current consensus price target is $15.56, suggesting downside of -19.9%(ex-dividends)
Forecast for FY25:
Current consensus EPS estimate is 100.9, implying annual growth of 25.8%.
Current consensus DPS estimate is 70.1, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 19.2.
Forecast for FY26:
Current consensus EPS estimate is 106.1, implying annual growth of 5.2%.
Current consensus DPS estimate is 70.5, implying a prospective dividend yield of 3.6%.
Current consensus EPS estimate suggests the PER is 18.3.
Market Sentiment: 0.5
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BGL BELLEVUE GOLD LIMITED
Gold & Silver - Overnight Price: $0.97
Canaccord Genuity rates ((BGL)) as Resume at Speculative Buy (-1) -
After a period of research restriction, Canaccord Genuity resumed coverage of Bellevue Gold with Speculative Buy rating.
Following a weak March quarter production of 25koz due to lower grades, the company issued a revised mine plan to replace the previous 5-year plan.
The downgraded FY25 production forecast of 129-134koz is expected to increase to 150koz in FY26, with FY27-29 now targeted at 190kozpa vs FY27-29 of 220-250kozpa before.
The company recently undertook a $156.5m share placement, and has launched a strategic review, stating also that it has received an unsolicited interest.
The broker incorporated lower production and higher cost estimates into its forecasts. Target price $1.50.
This report was published on May 7, 2025.
Target price is $1.50 Current Price is $0.97 Difference: $0.525
If BGL meets the Canaccord Genuity target it will return approximately 54% (excluding dividends, fees and charges).
Current consensus price target is $1.33, suggesting upside of 35.9%(ex-dividends)
The company's fiscal year ends in June.
Forecast for FY25:
Canaccord Genuity forecasts a full year FY25 dividend of 0.00 cents and EPS of 2.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 48.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 4.3, implying annual growth of -34.0%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 22.7.
Forecast for FY26:
Canaccord Genuity forecasts a full year FY26 dividend of 0.00 cents and EPS of 10.00 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 9.75.How do these forecasts compare to market consensus projections?
Current consensus EPS estimate is 10.1, implying annual growth of 134.9%.
Current consensus DPS estimate is N/A, implying a prospective dividend yield of N/A.
Current consensus EPS estimate suggests the PER is 9.7.
Market Sentiment: 0.8
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BMT BEAMTREE HOLDINGS LIMITED
Healthcare services - Overnight Price: $0.26
Petra Capital rates ((BMT)) as Buy (1) -
Beamtree Holdings reaffirmed its 20% recurring revenue growth target for FY25, supported by a near-term pipeline of circa $4m in expected contract wins and an additional $5.2m that may be signed around the June 30 balance date.
Petra Capital highlights a projected annual recurring revenue (ARR) of $30.1m and notes potential slippage in timing, prompting a modest forecast downgrade.
A new NHS initiative, Evolve Collaborative, is flagged as a long-term opportunity, with a target go-live before end 2025. First installation of the Integrated Coding Platform in Saudi Arabia is expected by end-May and could add $1m in ARR. Buy rating and $0.50 target price retained.
This report was published on May 7, 2025.
Target price is $0.50 Current Price is $0.26 Difference: $0.24
If BMT meets the Petra Capital target it will return approximately 92% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 0.00 cents and EPS of minus 1.40 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is minus 18.57.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 0.00 cents and EPS of 0.30 cents.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 86.67.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
BRI BIG RIVER INDUSTRIES LIMITED
Building Products & Services - Overnight Price: $1.28
Petra Capital rates ((BRI)) as Buy (1) -
Petra Capital highlights a recovery in the housing cycle, supported by March 2025 approvals rising 9.7% year-on-year and December quarter commencements up 2.5%.
Single-family approvals, a key driver for Big River Industries, rose 9.4% year-on-year, now making up 60.8% of total approvals.
Government support through housing policies is expected to sustain volumes, while industry commentary remains cautious due to lag effects.
Petra sees scope for improved earnings (EBITDA) and operating cash flow as activity lifts, with FY26 earnings forecast to grow 62.4%.
Buy rating and $1.78 target price retained.
This report was published on May 7, 2025.
Target price is $1.78 Current Price is $1.28 Difference: $0.5
If BRI meets the Petra Capital target it will return approximately 39% (excluding dividends, fees and charges).
The company's fiscal year ends in June.
Forecast for FY25:
Petra Capital forecasts a full year FY25 dividend of 3.00 cents and EPS of 4.70 cents.
At the last closing share price the estimated dividend yield is 2.34%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 27.23.
Forecast for FY26:
Petra Capital forecasts a full year FY26 dividend of 5.00 cents and EPS of 7.60 cents.
At the last closing share price the estimated dividend yield is 3.91%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 16.84.
Market Sentiment: 1.0
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
CEN CONTACT ENERGY LIMITED
Infrastructure & Utilities - Overnight Price: $8.49
Jarden rates ((CEN)) as Buy (1) -
New Zealand's Commerce Commission gave the green light for Contact Energy's proposed acquisition of Manawa Energy.
Jarden believes this removes a significant hurdle, and the deal will now proceed to court approval and shareholder vote.
The broker sees long-term upside for the stock if wholesale prices remain elevated and synergy guidance is met.
Buy. Target price NZ$11.11.
This report was published on May 7, 2025.
Current Price is $8.49. Target price not assessed.
The company's fiscal year ends in June.
Forecast for FY25:
Jarden forecasts a full year FY25 dividend of 35.56 cents and EPS of 21.34 cents.
At the last closing share price the estimated dividend yield is 4.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 39.79.
Forecast for FY26:
Jarden forecasts a full year FY26 dividend of 35.56 cents and EPS of 32.37 cents.
At the last closing share price the estimated dividend yield is 4.19%.
At the last closing share price the stock's estimated Price to Earnings Ratio (PER) is 26.23.
This company reports in NZD. All estimates have been converted into AUD by FNArena at present FX values.
All consensus data are updated until yesterday. FNArena's consensus calculations require a minimum of three sources
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